IQ Medical 

Business bio 

IQ Medical provides specialist medical equipment, disinfection services and planned and preventative maintenance to both the NHS and Private sectors across the UK. Its cornerstone product is a portfolio of highly-effective and clinically-proven, Pressure Area Care (PAC) mattresses; pressure-relieving mattresses used to prevent ulcers (sores) in patients with restricted mobility, in both the public sector and private hospitals and Care Homes. With a lifespan of six years on average, the product requires regular servicing and cleaning, which IQ Medical also offers.

Loan Amount

£250,000

Region

Coventry & Warks

Funding Need

Product Expansion

Sector

Medical and healthcare

“The funding package we have received from MEIF Maven will allow us to invest in our product range, creating even more innovative and effective care solutions and providing patients with better facilities for their stay across hospitals, at home and in dedicated Care Homes in the UK. We are looking forward to expanding our team, unlocking new market opportunities and entering our next phase of growth.”

Dean Greenwood
Managing Director at IQ Medical

Growth and expansion

The market for pressure care mattresses is rapidly expanding as the NHS seek to discharge patients out of high-cost Hospital care, back to home. The drive for cost-effective home care services, particularly with a growing elderly demographic, has created an ideal market for IQ Medical’s proven PAC systems, recently highlighted in the British Journal of Nursing. The current UK population of 65m has 18% of residents over the age 65 and the number of over 85’s is set to increase alongside life expectancy rates. The rise in the older demographic will increase the demand for beds and mattresses from 175K to 200k by 2039. With the percentage of patients at risk of bed sores at 80%, there is significant market share available in this growing market.

IQ Medical will use the funding to fuel the development of new, innovative, high-performance products, invest in and diversify its NHS Hospitals and Care Home portfolio, and strengthen its sales and marketing team.

 

 

Could MEIF Maven Debt Finance help fund your growth journey?

If you’re running an SME business that’s looking to grow, we’d love to hear from you. Feel free to give us a call to find out more about our flexible funding solutions: 

0121 231 7125 Birmingham | 0115 697 6160 Nottingham

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